Multibagger power stock hits upper circuit on Rs 1026-crore order win; shares up 177% in 2023

Shares of multibagger Genus Power Infrastructures Ltd were stuck in the upper circuit of 5% in early deals today after the company’s wholly owned subsidiary received a Letter of Award (LOA) worth Rs 1,026.31 crore. The power stock traded 5% higher at Rs 234.50 on BSE today against the previous close of Rs 223.35. In the current session, Genus Power stock opened 5% higher at Rs 234.50 on BSE. Market cap of Genus Power rose to Rs 6041.61 crore.     

A total of 1.99 lakh shares of the firm changed hands, amounting to a turnover of Rs 4.66 crore on BSE.   

genuspower-share-price-364994">Genus Power stock has a one-year beta of 0.1, indicating very low volatility during the period.   

Genus Power shares have delivered multibagger returns of 575% in three years. In a year, the stock has clocked 157% returns. The stock rallied 177% in 2023.  

The order for appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about a million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.  

In terms of technicals, the relative strength index (RSI) of Genus Power stands at 40.1, signaling it's trading neither in the overbought nor in the oversold zone. The stock is trading higher than the 5 day, 10 day, 20 day, 200 day and lower than the 30 day, 50 day, 100 day moving averages.     

Genus Power shares fell to a 52-week low of Rs 78.10 on December  26, 2022. It touched a record high of Rs 290 on September 5 this year.  

The stock has gained 200% from 52 week low.  

Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures said, “In relatively short span, since July 2023, our company has secured a total of seven orders, amounting to about Rs. 16,185 crore (net of taxes). This consistent success reflects the trust our clients place in our capabilities and the superior quality of our offerings. With the addition of the recent order, our total order book has now surpassed the significant milestone of Rs. 20,000 crore (net of taxes). As we celebrate this achievement, we remain committed to maintaining the highest standards of quality, innovation, and customer satisfaction.” 

Net profit rose to Rs 49.2 crore in Q2 against Rs 6.5 crore in the corresponding quarter of the previous fiscal. Genus Power reported a revenue of Rs 308 crore in the September 2023 quarter compared to a revenue of Rs 223 crore in the corresponding quarter a year ago.  

Operating profit climbed to Rs 26.3 crore in Q2 against Rs 16.8 crore in the corresponding quarter of the previous fiscal.   

Net profit climbed to Rs 35 crore in FY23 against Rs 21.8 crore profit in FY22. Revenue from operations surged to Rs 826.8 crore in the last fiscal against Rs 711.9 crore for the fiscal ended March 2022.      

Genus Power is primarily engaged in manufacturing/providing metering and metering solutions and undertaking engineering, construction and contracts on a turnkey basis. The company operates through two segments: Metering business and Strategic investment activity. etc.       

 

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